Unilever Plc · LSE:ULVR
Unilever — Q1 2021 Earnings Presentation
22 slides from Unilever's earnings presentation, Apr 29, 2021
Slide 1: Unilever Q1 2021 Trading Statement
Unilever Q1 2021 Trading Statement Alan Jope & Graeme Pitkethly 29th April 2021
Slide 2: Safe harbour statement
Safe harbour statement This presentation may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vi
Slide 3: Alan Jope
Alan Jope Unilever Q1 2021 Trading Statement 29th April 2021
Slide 4: Strong start to the year
Strong start to the year Operational Competitiveness Growth excellence Penetration Underlying Sales Growth 57% 5.7% Innovation Design for channel % Business Winning MAT Brand purpose 4.7% Underlying Volume Growth Fuel for growth 4
Slide 5: Strategic change agenda
Strategic change agenda Prestige Beauty & €3bn share Functional Tea Elida Beauty buyback Nutrition • Prestige Beauty returned • Operational separation • Separation is underway of • Share buyback to strong growth progressing well and smaller BPC brands programme commencing expected to complete this i
Slide 6: Category dynamics
Category dynamics All figures USG% Laundry 6% 4% 2% Hygiene 0% (1 )% 26% 19% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 11% 7% 5% Prestige 21% Personal care Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 8% (2 )% (0 )% (3 )% (2 )% (2 )% Functional nutrition (1 0)% (5 )% (1 0)% 54% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 45% Q1 20 Q2 20 Q3
Slide 7: Beauty & Personal Care
2.3% 1.5% Beauty & Personal Care Q1 USG Q1 UVG Skin Cleansing +5% Rest of BPC (0)% Hair, Skin Care, Deodorants (8)% Oral +4% • Skin Cleansing demand still high • Hair, Skin Care, and Oral grew • Deodorants declined in line with Prestige +21% VMS +54% market • Prestige returned to strong growth • VMS
Slide 8: Foods & Refreshment
9.8% 7.3% Foods & Refreshment Q1 USG Q1 UVG In-home +11% • Strong volume and price growth • Growth driven by in-home foods as demand remains high Out of home +4% • Out of home back to growth Food Service remains impacted vs 2019 base driven by China, though demand 2019 base remains below pre-COVID l
Slide 9: Home Care
5.9% 6.5% Home Care Q1 USG Q1 UVG Home & Hygiene +6% • Growth driven by volume • Strong innovation program rooted in Clean Future agenda Laundry +6% • Growth led by priority India and China markets 9
Slide 10: eCommerce
eCommerce USG 66% Channel centric Content that Flawless portfolio converts execution Q1 2021 USG +66% 11% of group turnover 10
Slide 11: Graeme Pitkethly
Graeme Pitkethly Unilever Q1 2021 Trading Statement 29th April 2021
Slide 12: Volume and price growth
5.7% 4.7% Volume and price growth Q1 USG Q1 UVG USG 0.0% (0.3)% 4.4% 3.5% 5.7% 1.0% • Volume-led competitive growth driven by key emerging markets and North America UPG 4.7% • Pricing stepping up UVG • Market environment very varied depending on Covid response and economic factors '20 Q1 '20 Q2 '20
Slide 13: Asia / AMET / RUB
9.9% 8.6% Asia / AMET / RUB Q1 USG Q1 UVG USG (3.7)% (1.8)% 4.5% 2.6% 9.9% • C hina: Strong recovery of 1.2% consumer demand • India: Strong growth as mobility increased but Covid cases 8.6% spiking again UPG UVG • SEA: Markets continue to be impacted by lack of tourism and economic downturn • Turke
Slide 14: Latin America
7.2% 1.9% Latin America Q1 USG Q1 UVG USG 4.9% (0.8)% 6.5% 5.8% 7.2% • Brazil: Price-led growth resilient 5.1% during crisis UPG • Argentina: Strong volume and price growth despite mobility 1.9% UVG and pricing restrictions • Mexico: Price-led growth across all divisions '20 Q1 '20 Q2 '20 Q3 '20 Q4
Slide 15: North America
4.3% 3.3% North America Q1 USG Q1 UVG USG 4.8% 9.5% 9.1% 7.1% 4.3% • Good growth versus strong household stocking comparator • Demand for in-home food remains high UPG 0.9% • Out of home food beginning to UVG recover 3.3% • Hygiene demand levelling off • Strong performance from VMS '20 Q1 '20 Q2 '20
Slide 16: Europe
(2.3)% (0.7)% Europe Q1 USG Q1 UVG USG 1.4% (4.5)% (0.8)% 0.8% (2.3)% • UK & Germany: Lapping household stocking from March 2020 • France: Deflationary retail environment UPG (0.7)% UVG (1.6)% • In-home food demand remains high while personal care usage occasions remain low • Out of home food contin
Slide 17: Turnover -0.9%
Turnover -0.9% USG 5.7% 2.0% 1.0% (0.2)% 4.7% A & D 1.9% (8.0)% €12.4 bn €12.3 bn 17
Slide 18: Margin dynamics
Margin dynamics Commodity Commodity Currency COVID-19 BMI inflation inflation movements impact +100 bps H1 2020 (100) bps H2 2020 D’19 M’20 J’20 S’20 D’20 M’21 D’19 M’20 J’20 S’20 D’20 M’21 D’19 M’20 J’20 S’20 D’20 M’21 Tea Palm Oil Crude Brazilian Real Turkish Lira USD Global new daily COVID-19 cas
Slide 19: Outlook
Outlook Underlying Sales Growth Underlying Operating Margin Full year within our 3-5% Full year expected to multi-year framework, with increase slightly with a the first half around the top decline in the first half of this range 19
Slide 20: Alan Jope
Alan Jope Unilever Q1 2021 Trading Statement 29th April 2021
Slide 21: Summary
Summary Strong Q1 underpinned by operational excellence Driving stepped up competitiveness Good progress on portfolio evolution €3bn share buyback programme 21
Slide 22: Unilever Q1 2021 Trading Statement
Unilever Q1 2021 Trading Statement Alan Jope & Graeme Pitkethly 29th April 2021